CFTC Issues Substituted Compliance Standards for Overseas Swaps

(Bloomberg) -- The U.S. Commodity Futures Trading Commission, seeking to bolster global oversight of derivatives trading, released determinations for when overseas rules are sufficiently robust to take precedence over Dodd-Frank Act measures on trades in foreign jurisdictions.

The CFTC today approved a series of broad comparability determinations describing circumstances when it will consider swaps regulations in the European Union, Japan and four other jurisdictions to be equivalent to its own. The agency postponed decisions on whether other rules are strong enough to govern derivatives trading by companies including Goldman Sachs Group Inc. and JPMorgan Chase & Co.